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Citibank Maxigain Savings Account

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Old 01-05-2019, 11:01 PM   #5341
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if i receive interest on 30th of April, can i draw out the interest today 2nd may without affecting counter? i assume the tnc is lowest balance in current month must be higher than lowest balance in previous month without reseting the counter? Or Or need to withdraw on 30th of every month i.e. same day when interests is credited?
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Old 01-05-2019, 11:05 PM   #5342
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e$aver Bonus Interest (1 April 2019 to 31 May 2019) Promotion
From now till 31 May 2019, earn up to 2.00% p.a. interest on eligible deposit balance of S$1 million with no lock-in period when you bring in incremental fresh funds* (compared to March 2019ís average daily balance).

DEPOSIT BALANCE TIER
PREVAILING INTEREST RATE ON DEPOSIT BALANCE
BONUS INTEREST RATE ON ELIGIBLE INCREMENTAL BALANCE
TOTAL INTEREST RATE ON ELIGIBLE INCREMENTAL BALANCE
<S$50,000 0.10% p.a. 1.75% p.a. 1.85% p.a.
S$50,000 to <S$200,000 0.15% p.a 1.90% p.a.
≥S$200,000 0.25% p.a. 2.00% p.a.

pls see the sc website, the bonus interest is only on incremental balance, u need to transfer in and out to get the 2% interest
I keep my money within the same SC internet banking account and receiving the interests every month. Im a happy man.. go ahead and explore other options if that is your choice.
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Old 01-05-2019, 11:09 PM   #5343
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if i receive interest on 30th of April, can i draw out the interest today 2nd may without affecting counter? i assume the tnc is lowest balance in current month must be higher than lowest balance in previous month without reseting the counter? Or Or need to withdraw on 30th of every month i.e. same day when interests is credited?
withdraw any day (except Sunday/public holiday to avoid loss of one-day interest) in the following month.

e.g. interest would have been in on 30 April. you can withdraw out the interest on 2 May and park the money elsewhere with higher interest (if you've already maxed 150k).
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Old 01-05-2019, 11:20 PM   #5344
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citibank should increase 150k limit..
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Old 01-05-2019, 11:33 PM   #5345
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if i receive interest on 30th of April, can i draw out the interest today 2nd may without affecting counter? i assume the tnc is lowest balance in current month must be higher than lowest balance in previous month without reseting the counter? Or Or need to withdraw on 30th of every month i.e. same day when interests is credited?
Yes you may withdraw the interest only in the following month without affecting counter.


Withdrawal of Interest without Resetting the Counter

For example, an account holder has amassed a balance of $150,000 at the start of the month and has decided to withdraw the excess interest which earns a paltry 0.05% interest rate. At the end of the month, the base and bonus interest is credited to the account but the lowest balance of the month remains at $150,000.

Lowest Balance in Month 1: $150,000

The account holder then withdraws the interest at the start of the following month, leaving the balance of $150,000 untouched.

Lowest Balance in Month 2: $150,000

As the lowest balance in Month 1 is equal to the lowest balance in Month 2, the Counter will raise by 1. If the Counter has already reached the maximum count, it will not reset.
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Old 01-05-2019, 11:40 PM   #5346
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for people who put $149,999.95 how much are they getting each month now considering they have max 12 counters....
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Old 01-05-2019, 11:44 PM   #5347
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rough calculation is $310?
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Old 02-05-2019, 02:39 AM   #5348
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where to open citibank maxigain account? can go to those mrt one or some specific one? 70k they will give Citi Priority Debit Mastercard better?
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Old 02-05-2019, 03:41 AM   #5349
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Yes you may withdraw the interest only in the following month without affecting counter.
thank you in this case does it make a difference if we withdraw on 30th when interest is credited or on 1st of following month? based on your tnc seems to have no impact. Just trying to understand if the date really matters
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Old 02-05-2019, 05:19 AM   #5350
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May I know what is the Sibor rate for Apr interest ?
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Old 02-05-2019, 07:09 AM   #5351
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where to open citibank maxigain account? can go to those mrt one or some specific one? 70k they will give Citi Priority Debit Mastercard better?
this is dangerous if you used too much and cause $ lower than a month before
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Old 02-05-2019, 09:40 AM   #5352
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May I know what is the Sibor rate for Apr interest ?
My calculation is 1.771300%
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Old 02-05-2019, 09:50 AM   #5353
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My calculation is 1.771300%
I got 1.8233%

1.77% dont seem right
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Old 02-05-2019, 10:11 AM   #5354
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I got 1.8233%

1.77% dont seem right
Closer to 1.85% as April has 30 days
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Old 02-05-2019, 11:00 AM   #5355
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means there are no maximum interest cap, if sibor keep getting higher and higher
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